Quang Binh province promotes investment in Japan

The conference aims to help businesses of the central province of Vietnam and Japan meet, exchange and explore investment cooperative opportunities in the future. (Photo: VNA)

Tokyo (VNA) – The central province of Quang Binh is active and open to investors and commits to accompany and create the most favourable conditions in order to turn investor ideas and its development goals into reality, an official has said.

Doan Ngoc Lam, Vice Chairman of the provincial People’s Committee, made the statement at an investment promotion conference in Tokyo on September 22.

Jointly organised by the Quang Binh provincial People’s Committee, the Vietnamese Embassy in Japan, Japan External Trade Organisation (JETRO) and ASEAN Centre, the event aimed to help businesses of the central province of Vietnam and Japan meet, exchange and explore investment cooperative opportunities in the future.

In his remarks, Lam said Quang Binh has an important strategic position on economic development corridors, converging many potentials and strengths to develop an integrated and diverse economy, especially tourism development.

Talking about Vietnam's potential, JETRO Vice President Nakazawa Katsunori highlighted that export turnover between Vietnam and Japan doubled in the past 10 years, and Vietnam has become an important partner and investment destination of Japan.

According to a survey conducted by JETRO among 3,000 Japanese companies with overseas investments, Vietnam ranks second among countries in which Japanese companies want to invest for six consecutive years. In addition, in 2022, there were up to 4,700 requests for advice from Japanese companies on the foreign investment environment related to Vietnam.

At the event, Honna Hitoshi, President and Representative Director of Japan's Erex Co. Ltd, briefed participants about his company's activities and biomass power projects in Vietnam, including the Quang Binh biomass power plant.

He said he hopes that the government will speed up investment licensing procedures and allow Erex to enjoy preferential import and investment taxes because the company will transport many machinery and equipment to Vietnam. He also expects the Vietnamese government to consider adjusting electricity purchasing prices, adding that this will help Erex reinvest in projects.

Speaking at the event, Secretary of the Quang Binh provincial Party Committee Vu Dai Thang said the presence of a large number of Japanese companies showed their interest in the locality. He pledged that the province would do everything possible to create a fair, favourable, substantial, efficient and timely investment environment, to transform the potential and benefits into specific and practical results./.